But the Seattle coffee giant is just getting started. At the company’s annual shareholders meeting today in Seattle, Chief Digital Officer Adam Brotman noted that this is just the beginning for Starbucks’ plan in the digital world.
“If you are impressed so far, I promise you, you haven’t seen anything yet,” Brotman told shareholders. “We have a robust pipeline of digital and mobile innovations coming down the pipe.”
Brotman said that more than 14 percent of all Starbucks transactions in U.S. stores are now made with a mobile device and that there were five million mobile payments made in stores just last week alone.
Brotman also touched on the success of the company’s loyalty and card programs. During the 2013 holiday quarter, a record $1.4 billion was loaded on cards and one in eight U.S. adults received a Starbucks card. The company now has more than eight million rewards members in North America alone.
“We have now, because of the strength of our card and loyalty programs, built the world’s most successful mobile loyalty and mobile payment program in the world,” he said. “No other consumer brand retailer in the world has the combination of both physical and digital assets that Starbucks has.”
“We have been, and we always will be a coffee company,” Schultz told Cramer this morning. “But the question that any consumer brand must answer today is: How do you become relevant, not only inside the four walls of your stores, but on digital, mobile, loyalty and card. We have a big lead and that lead has given us permission to play outside of our stores.”
Schultz echoed those sentiments to shareholders today.
“If we were a 20-chapter book, we’re no more than in chapter four or five,” Schultz said. “The innovation, enthusiasm, hunger and appetite for us is larger than at any other time in the history of the company.”
In non-tech related news, Starbucks brought out Oprah on stage today to announce a new tea called “Oprah Chai,” with all proceeds going to youth education. The tea, which includes cinnamon, ginger, cardamom and cloves blended with loose-leaf black tea and rooibos, will be available by Mother’s Day in the U.S.
— Starbucks Partners (@starbucksprtnrs) March 19, 2014
Starbucks also noted today that it now serves more than 70 million customers per week in more than 20,000 stores in 64 countries. Starbucks’ stock, which is up 35 percent year-over-year, is up about two percent today.